Islamic Development Bank issues guidance for sukuk

DUBAI, June 15 Islamic Development Bank has
issued initial price guidance for a five-year benchmark-sized
Islamic bond, or sukuk, issue, in what would be its first debt
issuance for more than a year, a document from lead managers
said on Friday.

The supranational, which is rated AAA by the three main
rating agencies, is looking to price the deal in the range of
35-45 basis points over midswaps, the document said.

Books have been opened and pricing is expected to happen
next week, the document added.